GCash is widely recognized as a reliable and user-friendly loan app in the Philippines. Its emphasis on security and reliability reassures users, while its expanding network of merchants and shops makes it easy to manage financial transactions.
GCash also offers GScore and G-Invest, which allow you to track and manage your credit history. You can qualify for these services by maintaining a fully verified GCash profile and by regularly using different GCash products.
GLoan
GLoan is a money lending service from GCash that allows its users to borrow cash for various purposes. It has lower interest rates than credit cards and other loan apps in the market. It also lets users access their cash limit within the app, avoiding the need to submit physical documents or face-to-face transactions. Moreover, it has the same cash advance speed as bank cash outs.
Eligible GCash users can enjoy a loan limit of up to P125,000 instantly, based on their GScore. They can use the loan to pay for goods and services at GGives partner merchants, with payment methods including Pay QR and GLife. The GGives loan amount will then be deposited into the user’s GCash wallet. It is important to note that the loan amount includes the interest rate, processing fee, and repayment period.
The GScore is an overall trust rating that is based on the frequency of GCash activities, maintenance pesoq of balance, loan performance (early/on-time payments), regular saving and investments, and purchase of GInsure products. Applicants can improve their GScore by maintaining a valid GCash account, paying their GLoan debts on time, and participating in other activities to earn more points.
GGives
GGives is a new lending feature of GCash that allows subscribers to purchase big-ticket items on installment or “gives” for up to 12 months. It is available for qualifying GCash users with a high GScore, the app’s creditworthiness measure based on their usage of GCash. The GGives feature is an addition to the many other financial services offered by GCash such as GSave, an online savings bank; GCash Invest, which lets you easily invest your money; and GSure, a mobile insurance service for medical emergencies.
To avail of a GGives loan, tap “View All GCash Services” on the GCash dashboard and scroll down to the Financial Services section. Then, tap the GGives icon. You will be able to edit your information on the next page, or you can confirm your details and continue by tapping “Next.” Make sure to tick the boxes that indicate your agreement with Fuse Lending’s policies. Once you’ve done that, tap “Activate my GGives.”
To avoid late payment charges, pay your GGives loan balance before its due date. You can do this by paying it via a Bills transaction on the GCash dashboard or through offline partners. Just remember to have your GGives Loan Account ID ready for faster processing. You can also set your GGives repayment plan to automatically deduct on your GCash wallet so you’ll never miss a payment.
G-Invest
G-Invest is a feature in the GCash app that allows users to invest their wallet balance into various investment funds. The GCash app partners with product providers like ATRAM Trust Corporation and Seedbox Philippines to give its users an easy-to-use way to make their money work for them. This service lets people invest as low as P50 for local fund investments, while international funds start at Php1,000. This makes it a great choice for beginners who are interested in investing but don’t have the necessary capital to invest in traditional options.
To use G-Invest, simply open the GCash app, navigate to the G-Invest tab, and choose the fund you want to purchase. Make sure your wallet has enough funds to cover the transaction, then click “Buy” to confirm the purchase. Then, wait for three to four days for the funds to reflect in your account.
The best way to take advantage of this investment option is to pay your GCash bills on time. This will help you boost your GScore, which is essential for qualifying for many GCash services and getting favorable interest rates. It’s also a good idea to participate in GSave and GInvest, which are investment programs that earn you a return on your investment. These can also help you grow your savings and get you closer to financial freedom.